May 21, 2026 (MLN): Oil and Gas Development Company Limited has significantly expanded its exploration portfolio after securing eight offshore blocks under the Offshore Bid Round 2025, marking one of the company’s largest additions to its upstream acreage in recent years.

The development comes as Pakistan has officially reopened its offshore exploration frontier after nearly two decades, following the signing of Production Sharing Agreements (PSAs) and Exploration Licences (ELs) under the Offshore Bid Round 2025 framework, as reported by APP.

The signing ceremony was held at the Ministry of Petroleum and was attended by Federal Minister for Petroleum Ali Pervaiz Malik, who described the initiative as a key milestone in efforts to revive offshore exploration activity, attract fresh investment, and reduce dependence on imported energy.

OGDC was represented at the event by MD & CEO Ahmed Hayat Lak along with Head of Exploration Dr. Khalid Amin Khan. Senior officials including the Secretary Petroleum Division, managing directors of joint venture partners, and representatives of Government Holdings Private Limited were also present.

Under the Offshore Bid Round 2025, OGDC has been awarded eight blocks in total. These include two blocks where it will serve as the operator.

The remaining six blocks will be developed in partnership as a joint venture with other exploration and production companies.The agreements were formally executed between OGDC and its JV partners during the ceremony.

Officials noted that the reopening of offshore acreage represents a major step toward unlocking Pakistan’s untapped hydrocarbon potential and strengthening long-term energy security through increased domestic exploration.

The award further enhances OGDC’s offshore footprint and underscores its strategic focus on expanding indigenous exploration activities to support the country’s future energy requirements.